The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on
July 18, 2013, which was the largest municipal bankruptcy filing in
U.S. history by the amount of the debt. It caused a big turbulence
in the communities involved and questions rose as to how the
management and accounting system could have helped the city to
prevent or alleviate the financial tragedy. From the teaching
perspective, the bankruptcy serves as a realistic example to
discuss debt levels, property tax collections,...